LaFox, IL, May 25, 2017 – Richardson Electronics, Ltd. (NASDAQ: RELL) today announced the sale of its picture archiving and communication systems (“PACS”) Display business, including the Image Systems brand, to Double Black Imaging.
The Image Systems brand of diagnostic and clinical imaging displays has been recognized as an industry leading display brand for over 25 years. The Image Systems product portfolio includes 2MP, 3MP, 5MP, and 6MP color and grayscale displays. Included in the sale is Image Systems proprietary calibration software, known as CFS, which is designed to simplify the conformance and calibration of all Image Systems diagnostic and clinical use displays. This ensures DICOM® compliance and proper calibration throughout their life-cycle.
Double Black Imaging is a well-known, industry leading provider of PACS displays for the diagnostic and clinical display market. Double Black Imaging was launched in July of 2002.The company is privately held by the Lloyd family in Colorado and Minnesota.
“Double Black Imaging shares many of the same values as Richardson Electronics including our objective to help lower healthcare costs. We believe the combination of these two PACS display businesses creates a stronger competitive environment and will be good for our diagnostic display customers. At the same time, this sale allows Richardson Healthcare to focus on its key initiative to expand our line of CT and MRI tubes and high value replacement parts for the diagnostic imaging market,” said Edward J. Richardson, chairman and CEO of Richardson Electronics, Ltd.
ABOUT RICHARDSON ELECTRONICS, LTD.
Richardson Electronics, Ltd. is a leading global provider of engineered solutions, power grid and microwave tubes and related consumables; power conversion and RF and microwave components, flat panel detector solutions and replacement parts for diagnostic imaging equipment; and customized display solutions. We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.
Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.
FORWARD LOOKING STATEMENTS
This release includes certain “forward-looking” statements as defined by the Securities and Exchange Commission. Statements in this press release regarding the Company’s business which are not historical facts represent “forward-looking” statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Item 1A, “Risk Factors” in the Company’s 2016 Annual Report on Form 10-K. The Company assumes no responsibility to update the forward-looking statements in this release as a result of new information, future events, or otherwise.